Construction Insurance

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The UK’s construction industry has been burdened by increasing pressure in recent years. With challenge after challenge the need for the right risk protection advice has never been greater. As a Chartered Insurance Broker, we pride ourselves on providing specialist construction advice that really makes a difference, now and into the future.

Cyber threats for the construction industry

As firms adopt to the new technology available ​a renewed focus needs to be concentrated on their IT infrastructure to future proof and mitigate themselves from the increasing level of sophisticated Malware & Phishing attacks made by Cyber Criminals.

Rising Insurance costs for the construction industry

With the turbulence of recent years and an already hardening insurance market, many construction insurers have reduced their offering for certain classes of insurance, such as Professional Indemnity, resulting in conflicts with contractual obligations between contractors and their clients and rising premium costs.

Sustainability & Raw Material Price increases for the construction industry

The increased financial cost on raw materials has now accelerated complications on ‘Fixed Price’ contracts which have resulted in the need for flexibility around tenders to maintain profitability. Such pressures are amplified further by firms’ responsibilities to source socially responsible materials in an already stretched supply chain to meet the needs of the changing construction landscape.

What is Construction Insurance?

Construction insurance is a specialized coverage that protects individuals and businesses in the construction industry from various risks during projects, including liability, property damage, and injuries. It encompasses policies such as general liability, builder’s risk, workers’ compensation, and others to provide comprehensive financial protection for construction-related activities.  

Sparks flying while construction worker tries to saw through a metal post

Why do you need specialist construction insurance?

As insurers reduce their internal cover limits and the market shrinks in its capacity to provide solutions, you need an adviser who knows the industry and will be able to design a competitive, flexible insurance programme that will respond when you need it. 
 
Construction insurance is a complex area. Clients need an adviser with the technical skills and knowledge to advise on issues such as complicated people risk, the ever evolving legislative landscape and JCT contracts. 
 
Our approach to business resilience and the risk management tools and techniques we use enable us to help construction businesses mitigate the risks they face today. 

Sectors we operate in:

  • Housebuilders and property developers 
  • Demolitions contractors 
  • Principle contractors 
  • Principle designers 
  • Civil engineering firms 
  • Allied trades to the sector
     

What our clients are telling us:

The conversations we’re having with clients reveal some significant issues facing this sector:

As firms adopt to the new technology available, they need to renew their focus on their IT infrastructure to future proof and mitigate the risks from the increasing level of sophisticated malware and phishing attacks made by cyber criminals.

With the turbulence of recent years and an already hardening insurance market, many construction insurers have reduced their offering for certain classes of insurance, such as professional indemnity, resulting in conflicts with contractual obligations between contractors and their clients and rising premium costs.

The increased financial cost on raw materials has now accelerated complications on ‘Fixed Price’ contracts which have resulted in the need for flexibility around tenders to maintain profitability. Such pressures are further amplified by the pressures to source socially responsible materials in an already stretched supply chain to meet the needs of the changing construction landscape. Construction businesses today need advice that transcends traditional insurance and takes into consideration the wider risks facing their business today.

Who is currently supporting you with these challenges? 
We have developed our ability to support our clients across a wide spectrum of challenges and risks to a business’s operation. Whether it be through our own in-house capabilities or via our ecosystem partners, whatever challenge you are facing, you can be sure that we are well placed to support your business, as it progresses towards its objectives. 

Man reading the news on a tablet

Avoiding the risk of underinsurance

Did you know 19% of businesses haven’t reviewed their indemnity period in the last two years? Despite this, 91% of SMEs believe they have the right level of cover in place*.

What is underinsurance?

If your business is underinsured, your company’s assets are being insured at less than their true worth, leaving you inadequately protected. Therefore, in the event of a disaster, you would be compensated for less than the true value of your loss.

That’s not what you want to hear when you are making a claim. Click here to read more about underinsurance.

Choosing the right construction insurance policy

We’ve got you covered

We believe the arrangement and placement of the general insurance programme to be the most basic element of what we do, but nevertheless a key cornerstone of any risk programme.  

Rest assured, we do not take this for granted: we spend time with you and your teams making sure your programme is set up correctly and fit for purpose, so it responds as you expect it to.  

Unlike most brokers, we take a proactive approach to claims, making it a fundamental part of how we structure and design your programme. Claims is not an afterthought – it’s an integral part of our service proposition.  

If you do need to call upon your insurance policy, our claims proposition, which is founded upon our own, in-house loss adjusting expertise, sees us stand shoulder-to-shoulder with you just when you need the most support.

In addition to the standard covers, we normally receive the most questions around the following specialist areas: 

– 6.5.1 non negligence liability
– Business interruption
– Contractors all risk risks insurance
– Cyber protection
– Defective title indemnity
– Delay in start up
– Employers’ liability
– Employee wellbeing & benefits
– Employee wellbeing & life cover
– Environmental liability insurance
– Health & safety updates
– JCT Clause 6.5.1 insurance
– Judicial review cover
– Latent defect
– Management liability
– Motor fleet insurance
– Own plant and hired in plant insurance
– Professional Indemnity
– Public Liability
– Rights to light
– Single project insurance
– Shareholder protection
– Surety/bonds 

Our eco-system in the construction industry

integrity 365 logo

Intergrity365

BeavisMorgan logo

Beavis Morgan

GHW&Co Logo

GHW & Co

55 redefined logo

55/redefined

Beale-and-Co Logo

Beale & Co Solicitors

integrity 365 logo

Intergrity365

BeavisMorgan logo

Beavis Morgan

GHW&Co Logo

GHW & Co

55 redefined logo

55/redefined

Beale-and-Co Logo

Beale & Co Solicitors

Usual types of cover for the construction industry

We believe the arrangement & placement of the general insurance programme to be the most basic element of what we do, but nevertheless a key cornerstone of any risk programme.

In addition to the standard covers, we normally find the most questions around the following specialist areas:

Protects your business in the event of claims brought against you by other people (not your employees) for injuries or property damage caused in consequence of your business activities

Cover in the event of injury claims made by an employee.

Cover for the contract work undertaken and provides protection for the building works itself, whether completed or in progress. It also includes cover for all materials which are stored on or immediately next to the site on which you are working.

Cover against damage or theft to protect you against any unexpected losses, whether you own the equipment in question or have hired it in to use it on a project.

Protects businesses from compensation claims from third parties as a result of a motor accident. These third-party claims could be in the form of financial compensation for injury or property damage for a third party.

An important product designed for professional firms and people which covers them in the event of certain errors made during their business. The policies available mainly cover professional negligence, errors or omissions, breach of professional duty and civil liabilities

A bespoke arrangement between owner/developer or contractor and is negotiated into one program to cover ‘all risks’ of loss or damage to the permanent and temporary works comprising the contract, including the materials, and all things used for or intended for incorporation within the contract, throughout various phases of the construction / erection, including testing

Protects against the cost of restoring damage caused by environmental accidents, such as pollution of land, water, air, and biodiversity damage.

Provides protection against the employer’s liability for expense, liability, loss, claims or proceedings that arise due to non-negligent damage to property (other than the contract works) while undertaking a building contract

The skeleton of a building in the process of being built

Meet the construction team

Richard Grosvenor

Client Partner - Construction and Manufacturing

Martin Sidebottom

Risk Manager

Ian Gover

Client Executive

Ian Macro

Client Director

Stephen Cutler

Client Partner
Richard Grosvenor

Richard Grosvenor

Client Partner - Construction and Manufacturing
With over 20 years of insurance experience, Richard has designed and placed a range of insurance programmes for clients in the construction sector. Using his passion for health & safety development and risk identification methods, he continues to build ‘business resilience’ insurance programmes which deliver year on year on set objectives. A keen supporter of the Lighthouse charity, Richard strives to raise awareness on mental health in the sector and how we can support clients and colleagues alike.
Martin Sidebottom

Martin Sidebottom

Risk Manager
With more than 20 years of experience in the insurance and broking industry, Martin has worked for NFU, Fusion, Jelf and Partners& as an underwriter, insurance surveyor and risk manager / consultant. More recently as risk manager providing guidance, assistance and to clients building resilience into their business by finding solutions to their risk management requirements including Health & Safety, fire, security and business continuity planning. With an advance diploma in insurance and NEBOSH diploma in occupational safety and health, Martin has aided clients across many trade sectors including construction, haulage, manufacturing and more.
Ian Gover

Ian Gover

Client Executive
Ian Macro

Ian Macro

Client Director
Stephen Cutler

Stephen Cutler

Client Partner
ACII Chartered insurance broker with 11 years’ experience in the industry based in Manchester and specialising in house building, civil engineering and professional indemnity. With a reputation for technical excellence, Stephen takes pride in providing unique solutions to help clients navigate emerging threats with efficient risk management support.